DISCOURSE ON THE EU DIGITAL MARKET DEVELOPMENT

Abstract

Digital development drives resource optimization and cost reduction across private and public sectors. Within the European Union, a profound shift is occurring as it embraces the fourth industrial revolution, propelled by recent technological advancements. Simultaneously, the EU is on the cusp of the fifth industrial revolution, which complements the existing "Industry 4.0" framework, prioritizing research and innovation to facilitate a sustainable and human-centered transition for European industry. Advanced technologies, including data analytics, artificial intelligence, automated systems, cloud computing, the Internet of Things, robotics, 3D printing, and 5G communication networks, present substantial opportunities shaping the economic future of Europe and the world. This study examines and analyzes the discourse surrounding the digital market development within the European Union. It highlights the transformative impact of digital globalization and the Fourth Industrial Revolution on regional labor markets and economies, including those within the European Union. Recognizing the digital economy's active role in driving growth across all sectors of the regional economy, the European Union views its development as fundamental. Moreover, establishing a unified digital market emerges as a pivotal prospect and challenge for the European Union. The economic policy of the European Union has been demonstrated to foster the digitalization of societies in all member states actively. Its primary objectives include promoting a unified digital market and the prospective creation of the EU Digital Union. The formation of the Single Digital Market aims to reform regulatory provisions, ensuring greater unification, particularly in consumer rights protection, copyright, and online sales. The research findings conclude that the digital realm transcends borders, rendering territory and distance irrelevant. The targeted digital policy of the European Union extends its influence globally, particularly in neighboring countries subject to the EU's Neighborhood Policy. The extent of this influence is magnified in direct proportion to the trade relations between partner countries and the EU.